Report : North America Avocado and Avocado Derivatives Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Whole, Oil, Puree, and Others), Category (Organic and Conventional), and Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others)

At 5.5% CAGR, the North America Avocado and Avocado Derivatives Market is speculated to be worth US$ 2,976.06 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America avocado and avocado derivatives market was valued at US$ 2,154.59 million in 2022 and is expected to reach US$ 2,976.06 million by 2028, registering an annual growth rate of 5.5% from 2022 to 2028.  Strategic Development initiatives by manufacturers and demand from personal care industry are the critical factors attributed to the North America avocado and avocado derivatives market expansion.

Leading avocado growers and product manufacturers are expanding their businesses. Manufacturers from industries such as food & beverages, pharmaceuticals & nutraceuticals, and personal care are investing in product innovation and other strategies to expand their customer base and meet emerging consumer trends. Personal care product manufacturers are incorporating avocados in their products by investing significantly in their research and development activities to address the needs of consumers. Such product innovations help manufacturers gain a competitive edge in international markets. These developments are boosting the demand for avocados in various industrial applications across the region.

On the contrary, high prices of avocado and availability of substitutes of avocado products at lower costs hurdles the growth of North America avocado and avocado derivatives market.    

Based on type, the North America avocado and avocado derivatives market is segmented into whole, oil, puree, and others. The whole segment held 40.8% market share in 2022, amassing US$ 879.19 million. It is projected to garner US$ 1,176.78 million by 2028 to expand at 5.0% CAGR during 2022–2028.  

Based on category, the North America avocado and avocado derivatives market is bifurcated into organic, and conventional. The conventional segment held 81.6% market share in 2022, amassing US$ 1,757.11 million. It is projected to garner US$ 2,383.16 million by 2028 to expand at 5.2% CAGR during 2022–2028.  

Based on application, the North America avocado and avocado derivatives market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment held 47.2% market share in 2022, amassing US$ 1,015.95 million. It is projected to garner US$ 1,367.55 million by 2028 to expand at 5.1% CAGR during 2022–2028.

Based on country, the North America avocado and avocado derivatives market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.9% market share in 2022. It was assessed at US$ 1,613.36 million in 2022 and is likely to hit US$ 2,199.61 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.    

Key players dominating the North America avocado and avocado derivatives market are Avocado Brasil Comercio de Alimentos Ltda, Berje Inc, Calavo Growers Inc, ConnOils LLC, Exportadora Propal SA, Lemonconcentrate SLU, Meridian Fruits SPR de RL de CV, Mission Produce Inc, Salud Foodgroup Europe BV, and Westfalia Fruit Pty Ltd among others.  

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